Freshfields advises Blackstone on its proposed acquisition of AverysFreshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised private equity funds managed by Blackstone (‘Blackstone’) on the acquisition of Averys, the leading European manufacturer of customised racking and storage solutions for warehouses, from Equistone Partners Europe (‘Equistone’).
Blackstone is one of the world’s leading investment firms. Its asset management businesses, with $450 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.
Averys is a fast growing European leader in industrial racking solutions with several brands such as Stow, Storax, Feralco, Duwic and Acial, with total revenues of over €600 million. Averys operates in most European countries, has 11 factories, and employs 1,700 people.
The transaction is expected to close in the third quarter of 2018, subject to completion of the appropriate social processes and approval of relevant regulatory authorities.
The Freshfields team is being led in Paris by Alan Mason. Stéphanie Corbière advised on French financing aspects.
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